I empathize with your sentiments. I completely understand how discovering someone like Mr. Munger, with his profound wisdom and insights, can have a profound impact on one’s life. I heard about him a decade ago, I wish I had followed him earlier! Charlie Munger serves as a remarkable role model, both in the realm of investing and in guiding principles for life. In this article, we will explore the invaluable fundamentals he practiced and generously shared, which can be applied to our personal and professional journeys.
Who is Charlie Munger?
Charlie Munger is a highly esteemed figure in the world of investments. For those who may not be familiar with him, let me provide a brief introduction. Charlie Thomas Munger served as the Vice Chairman of Berkley Hathaway, the conglomerate led by Warren Buffet as Chairman. Buffet often referred to Munger as his closest partner and right-hand man. Sadly, we lost this legendary figure on November 28, 2023, just a month before he was set to celebrate his 100th birthday on January 1, 2024.
Charlie Munger: A multifaceted character
Before attending Harvard Law School, Munger delved into various subjects such as mathematics, physics, psychology, and architecture. However, he eventually shifted his focus from law to the realms of business and investing. Munger found the practice of law too confined in its scope, yearning for a broader range of disciplines including business, investing, and psychology. With a multidisciplinary approach to decision-making, Munger drew insights from various fields, believing that the practice of law alone did not provide the breadth of challenges and opportunities he sought.
Munger possessed a remarkable talent for extracting the essence from each subject and applying it to both his personal life and business endeavors. This wisdom was a defining characteristic of his character, and his ability to articulate it was truly exceptional.
Charlie Munger: A symbol of Resilience
Munger once said, “If you soldier through, you can get through almost anything. And it’s your only option. You can’t bring back the dead, you can’t cure the dying child. You can’t do all kinds of things. You have to soldier through it… You can’t quit. (Munger’s son died of leukemia). You must soldier on, come what may. Everyone has their share of adversities and setbacks in life, but you can’t quit. You have to grind through them and keep moving on. Stay focused”.
My Most Important Lesson from Munger’s Life: The Real Meaning of Resilience and Perseverance
Munger’s life has taught me a valuable lesson about resilience and endurance. It is that these qualities go beyond just facing challenges and persevering. True resilience means having the strength to keep going even when things get tough and enduring difficulties with courage and determination. Munger’s life has shown me that true resilience is not about avoiding problems, but about confronting them head-on and finding the inner strength to keep moving forward. This lesson has had a profound impact on my own life and has helped me navigate through adversity with determination and resilience.
In 1953, at the young age of 29, Munger faced a series of heart-wrenching challenges. He had recently gone through a divorce and lost his home, while also bearing the heavy weight of societal judgment that accompanied divorce in those times. In addition, his precious 8-year-old son, Teddy, was diagnosed with incurable leukemia. Munger, being uninsured, assumed the entire financial burden of Teddy’s medical treatment. Every single day, Charlie would dutifully visit Teddy in the hospital, his heart heavy with worry and grief. The unimaginable happened when Teddy, at the tender age of 9, lost his battle with cancer. Charlie found himself not only broken emotionally but also destitute and divorced as well. It’s hard to fathom the immense pain he must have endured.
What others would have done in such situations?
Most people, faced with such overwhelming adversity, might have turned to destructive habits like alcohol or drugs, or even contemplated ending their own lives. And surely, one could not blame them for feeling such desperation. However, Munger defied all odds—resisting the allure of self-destructive paths. Instead, he channeled his pain and anguish into a profound determination to rise above his circumstances.
Life was again unkind to Munger:
Fast forward to the age of 52, and another crippling blow awaited him. A failed surgery left Munger blind in one eye, with the haunting possibility of complete blindness looming ahead. Yet, this setback did not deter him. Munger, an insatiable seeker of knowledge, devoured every book that crossed his path. Faced with the terrifying prospect of losing his eyesight and being unable to read, he resolutely decided: “It’s time for me to learn braille!”
Perhaps, the remarkable thing about Munger was not just his brilliant intellect, but the incredible resilience and fortitude he displayed in the face of adversity. His actions spoke volumes, inspiring us all to never give up, no matter how dire the circumstances may appear.
Let’s understand his perception of Life and Business through some of his popular quotes:
“In my whole life, I have known no wise people who didn’t read all the time — none, zero.”
He always had a deep passion for reading. From his early years to the end, he devoted himself to pursuing knowledge through books. It was as if he possessed an insatiable thirst for learning, an innate desire to expand his mind. He firmly believed that reading was the key to personal and professional growth, an essential aspect of one’s journey through life. What truly set him apart was his wide-ranging interests, extending beyond the realm of law. This innate curiosity and breadth of knowledge made him truly exceptional, a true genius.
“Always take the high road, it’s far less crowded.”
Munger has always had a unique mindset. He firmly believes in venturing down a different path, even if it may seem risky and unconventional. Rather than following the well-trodden road where competition is fierce, he dares to take the contrarian route. He understands that although this approach carries its share of risks, the potential rewards it offers are truly tremendous.
“The safest way to try and get what you want is to try and deserve what you want.”
Munger understood that having a wishful dream was not enough. Instead, he believed in having a resolute dream. It required taking powerful actions and truly deserving the outcome.
“The big money is not in the buying and selling, but in the waiting.”
As an investor, he held firm to the belief that success lies not in frequent trading, but in patiently waiting for the right opportunities. He had great faith in the power of compounding. Charlie saw business as a means of acquiring undervalued assets, recognizing the immense value in long-term investments like Coca-Cola and Apple. His profound business insights deeply influenced Buffet, leading the two of them to create a conglomerate that will be remembered for generations to come.
Conclusion:
Charlie Munger is truly an exceptional individual who has made a profound impact on the business world with his remarkable investment expertise, profound intellect, and unwavering dedication to continuous learning. His remarkable contributions transcend the realm of finance, inspiring individuals to approach decision-making and life itself with a fresh perspective.
I hope you enjoyed reading it! Please share your feedback and any stories you have from his life.
Wining Life & Business 
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